Easy Ways To Reduce Marketing Spend Without Severely Impacting The Business [Forbes]
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Source: Forbes
GettyCompanies are like consumers. The first thing we tend to cut in a crisis is discretionary spend. And unfortunately, marketing investment often comes under this umbrella. The goal of marketers is to figure out what to cut without having a significant impact on business results. To find out how marketers can think about making smart cuts, I turned to Matt Voda, the CEO of Optimine, a marketing measurement and optimization software company. Having observed several crises (9/11, tech bust, financial collapse, the great recession, SARS, etc.), he has been through this exercise personally and helped a number of firms navigate cuts. Below are his suggestions.Kimberly A. Whitler: What have you noticed regarding what marketers tend to cut first in a crisis?Matt Voda: In many cases, the cuts are in areas where the brand may have difficulty measuring and proving value. In digital, this may be areas like paid social advertising where the clicks fail to tell the entire story. Facebook CPMs ar
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